General Electric may have grown its clean-tech business fourfold over the past six years, but Chief Executive Jeffrey Immelt wishes he had spent a little less time talking about it.
The head of the largest U.S. conglomerate, who in January was named a top adviser on job creation to U.S. President Barack Obama, said yesterday that GE's focus on the environmentally friendly aspects of its wind turbines and high-efficiency appliances might have led his critics to believe he was more interested in saving the planet than growing the company.
"If I had one thing to do … Read more
General Electric's latest green-technology initiative will be found in unlikely place: the inside of a refrigerator.
The industrial giant tomorrow will announce that it has changed its refrigerator manufacturing to use a gas that dramatically reduces the amount of greenhouse gases emitted. GE will host an event at a Decatur, Ala., plant where the atmosphere-friendly gas has first been introduced into GE's refrigerators.
The gas, called cyclopentane, is used as a blowing agent for the foam insulation poured into refrigeration products during manufacture. GE said it will spend about $16 million to convert its Decatur facility, part of … Read more
Google today said that it will invest about $100 million in the very large Shepherd's Flat wind project in Oregon, its second direct investment in renewable energy in two weeks.
Shepherds Flat is projected to be the largest wind farm in the world, able to generate 845 megawatts and supply enough energy for 235,000 average U.S. homes when it is online next year. GE Energy Financial Services and Caithness Energy are existing owners of the project near Arlington, Ore., which will take up about 30 square miles.
Last week, Google said it invested $186 million in the Ivanpah solar power plant … Read more
Ultracapacitor maker Ioxus today said it has raised $21 million from a handful of large industrial companies, a vote of confidence in this relatively young energy-storage technology.
The lead investor was Energy Technology Ventures, a joint venture of General Electric, utility NRG Energy, and fuel company ConocoPhillips. Another investment group involved was Aster Capital, which represents transportation and power companies Alstom, Schneider Electric, and Rhodia.
The series B round will be used for product development, for sales, and to ramp up the company's manufacturing facility in Oneonta, N.Y., Ioxus CEO Mark McGough said today. These "strategic partner&… Read more
Reviewing budget cameras is tricky. Add in a brand name that is synonymous with another product category like light bulbs and appliances and taking the camera seriously is even more difficult. Such is the case with the GE X5.
During the 2010 holiday season I received a few reader e-mails asking me about the X5, and frankly I knew nothing about it. There are so many point-and-shoots released each year that brands like GE don't generally show up on my radar because reader interest is low. (The cameras are actually made by a company called General Imaging, but it … Read more
General Electric plans to build a thin-film solar factory in the U.S. that will produce solar cells that have an efficiency of 12.8 percent, the company announced today.
In conjunction with this news, GE also announced that it has acquired PrimeStar Solar, a company GE has had a stake in since 2008.
The thin-film solar cells to be manufactured using cadmium telluride were developed by PrimeStar through a cooperative research program with Department of Energy's National Center for Photovoltaics. The cells were given a 12.8 percent efficiency rating, through a verification process conducted by the National … Read more
General Electric Chief Executive Jeffrey Immelt defended the nuclear industry's safety record today during a trip to Tokyo to show support to the operator of a stricken nuclear plant using reactors designed by the U.S. conglomerate.
Immelt met with executives at Tokyo Electric Power (Tepco), operator of the Fukushima power plant that was crippled by the March 11 earthquake and tsunami and is leaking radiation in the worst nuclear accident since Chernobyl in 1986.
GE and its nuclear business partner Hitachi have sent over 1,000 workers to help with the so far unsuccessful efforts to get the … Read more
General Electric's new hybrid light bulbs have begun shipping to retailers and are expected to be available nationwide by April 22, Earth Day, the company announced yesterday.
The hybrid halogen-compact fluorescent (CFL) light bulbs, announced in October 2010, look like a spiral frosted CFL light bulb snugly fit inside a clear glass bulb shaped like a typical incandescent light bulb.
One selling point is that the bulbs don't take time to light up like many CFLs currently available. When switched on, the hybrid bulb's halogen portion lights up within a half-second. Then once the CFL portion has … Read more
General Electric Energy today said it has agreed buy power conversion company Converteam to boost GE's industrial and renewable-energy businesses.
With the acquisition, which is expected to close in the third quarter this year, GE is seeking to play into the "mega trend" toward using electricity in heavy industries, such as mining and pumping gas through pipelines, the company said. Converteam's equipment can reduce electricity of motors by one … Read more